Lala corporation – Treasury Stock

Lala corporation has the following stockholders’ equity accounts on january1, 2013:

Commonstock,$10 par value $6,800,000
Paid-in capital in excess of par 400,000
Retained earnings Total stockholders equity	620,000
	$7,820,000

The company uses the cost method to account for treasury stock transactions. During 2013, the following treasury stock transactions occurred:

March 1Purchased 36,000 shares at $36 per share.

July1 Sold 10,000 sharesat$39 per share.

Sept1 Sold 9,500 sharesat$32 per share.

Instructions

Journalize the treasury stock transactions for 2013.

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